1. Place an X in the appropriate classification for each balance sheet item listed below.

Short-Term

Asset

Long-Term

Asset

Short-Term

Liability

Long-Term

Liability

Payroll taxes due

Accounts receivable

Land

Mortgage payable (non-current)

Buildings

Note payable (due in 24 months)

Inventory

Accounts payable

Cash on hand

2.Grouping Expenses by Cost Center

The Metropolis Health Systems Rehabilitation and Wellness Center offers outpatient therapy and return-to-work services plus cardiac and pulmonary rehabilitation to get people back to a normal way of living. The Rehabilitation and Wellness Center expenses include the following:

Nursing Salaries

Physical Therapist Salaries

Occupational Therapist Salaries

Cardiac Rehab Salaries

Pulmonary Rehab Salaries

Patient Education Coordinator Salary

Nursing Supplies

Physical Therapist Supplies

Occupational Therapist Supplies

Cardiac Rehab Supplies

Pulmonary Rehab Supplies

Training Supplies

Clerical Office Supplies

Employee Education

Required

Decide how many cost centers should be used for the above expenses at the Center.

Set up a worksheet with individual columns across the top for the cost centers you have chosen.

For each of the expenses listed above, indicate to which of your cost centers it should be assigned.

Physical/

Occupational Therapy

Rehab

Cardiac/

Pulmonary

Training

Administrative

Nursing Salaries

Physical Therapist Salaries

Occupational Therapist Salaries

Cardiac Rehab Salaries

Pulmonary Rehab Salaries

Pt. Education Coordinator Salary

Administrative/Clerical Salaries

Nursing Supplies

Physical Therapist Supplies

Occupational Therapist Supplies

Cardiac Rehab Supplies

Pulmonary Rehab Supplies

Training Supplies

Clerical Office Supplies

Employee Education